ACC 562 Assignment 4 Financial Analysis
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ACC 562 Assignment 4 Financial Analysis
Visit the Website of Eastman Kodak at http://www.kodak.com and review the most recent
financial report.
Write a six to eight (6-8) page paper in which you:
Evaluate the current financial condition of Eastman Kodak based
on its most recent quarterly report, which can be located at http://www.Kodak.com. Based on your evaluation,
discuss the most significant “red flags” for its public accounting firm to
consider.
Assume that you are the PricewaterhouseCoopers audit engagement
partner and have assessed Kodak as a high-risk client. Explain the modification
you would make to the audit engagement procedures to minimize any potential
liability of the firm.
Create an argument to the Kodak shareholders that, despite the
long relationship between Kodak and PricewaterhouseCoopers, the public
accounting firm maintains its professional independence.
In audits of high-risk clients, determine which requirements in
the AICPA’s Code of Professional conduct are most likely to be breached by the
auditors. Provide your rationale.
Analyze the risk of financial fraud at Kodak and how it is most
likely to be committed.
Based on your analysis of the financial fraud risk areas,
discuss the internal controls that should be implemented.
Given Kodak filing for bankruptcy, discuss the fiduciary
responsibility of the audit committee and board of directors.
Use at least four (4) quality resources in this assignment.
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